The Growing Movement To Create City-Run Public Banks - As activists pressure governments to remove their deposits from banks that back bad policies, cities are considering a new option: become their own financial institution that serves the needs of the citizens, not investors. When the movement to push the city of Los Angeles from keeping…

Activists call on L.A. to divest from Wells Fargo LOS ANGELES — A group of activists that included Robert F. Kennedy Jr. gathered outside City Hall Dec. 11 to voice support for the Los Angeles City Council as it considers steps that could divest its funds from Wells Fargo over the bank’s fake accounts scandal…

L.A. backs requirements that could freeze out Wells Fargo from city contract Los Angeles lawmakers pressed forward Wednesday with new requirements that likely would prevent Wells Fargo from hanging on to a multimillion-dollar contract with the city. The decision is the latest fallout from the scandal surrounding Wells Fargo, which admitted to creating as many as…